Homework Answers
19.
Features of job order production include all of the following except Mass production,
Second option is the correct option.
20.
Custom jewelry types of product would best be suited for a job costing system.
Fifth option is the correct option.
21.
A job cost sheet includes Direct materials, direct cost and applied overhead.
Fourth option is the correct option.
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Phone chargers Custom jewelry 2pts Question 21 A job cost sheet includes: Direct materials, direct labor,...
Fairbanks Corporation produces two types of cell phone electronic chargers: wall chargers and car chargers. The...
Fairbanks Corporation produces two types of cell phone electronic chargers: wall chargers and car chargers. The current traditional costing system allocates overhead costs using a plant-wide overhead rate based on direct labor hours. Since the two products are similar but require different parts and processes, the company controller believes that it might make sense to employ activity-based costing in order to get a better application of overhead expenses to the products produced. Production expectations for 2017 are 17,000 wall chargers...
Fairbanks Corporation produces two types of cell phone electronic chargers: wall chargers and car chargers. The...
Fairbanks Corporation produces two types of cell phone electronic chargers: wall chargers and car chargers. The current traditional costing system allocates overhead costs using a plant-wide overhead rate based on direct labor hours. Since the two products are similar but require different parts and processes, the company controller believes that it might make sense to employ activity-based costing in order to get a better application of overhead expenses to the products produced. Production expectations for 2017 are 17,000 wall chargers...
Destin Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor)...
Destin Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Destin allocates manufacturing overhead costs using direct manufacturing labor costs. Destin provides the following information (Click the icon to view the information) Read the requirements Requirement 1. Compute the actual and budgeted manufacturing overhead rates for 2020. (Enter your answer as a number (not as a percentage] rounded to two decimal places, X.XX.) Actual manufacturing overhead rate Budgeted...
Destin Products uses a job-costinf system with two direct cost categories (direct materials and direct manufacturing...
Destin Products uses a job-costinf system with two
direct cost categories (direct materials and direct manufacturing
labor) and one manufacturing overhead cost pool Destin allocates
manufacturing overhead costs using direct manufacturing labor
costs. Destin proves the following information in the photo
.
1. Compute the actual and budgeted manufacturing
overhead rates for 2017.
2. During March, the job cost record for Job 626 contained the
following information:
Direct materials
used
$40,000
Direct manufacturing
labor costs $35,000
Compute the...
ncome Statements under The reporting of the costs of manufactured products, normally direct materials, direct labor,...
ncome Statements under The reporting of the costs of manufactured products, normally direct materials, direct labor, and factory overhead, as product costs.Absorption Costing and The concept that considers the cost of products manufactured to be composed only of those manufacturing costs that increase or decrease as the volume of production rises or falls (direct materials, direct labor, and variable factory overhead).Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated...
Need help with question 17 & 18! c. Direct materials and direct manufacturing labor are included...
Need help with question 17 & 18!
c. Direct materials and direct manufacturing labor are included in total manufacturing costs. d. Manufacturing overhead costs incurred is used to determine total manufacturing costs. 4-17 Sturdy Manufacturing Co. assembled the following cost data for job order 823: Direct manufacturing labor $80,000 Indirect manufacturing labor 12,000 Equipment depreciation 1,000 Other indirect manufacturing costs 1,500 Direct materials 95,000 Indirect materials 4,000 Manufacturing overhead overapplied 2,000 What are the total manufacturing costs for job order...
Direct Direct Direct Materials Labor Cost Labor Hours Job 200 $ 500 $800 40 40 Job...
Direct Direct Direct Materials Labor Cost Labor Hours Job 200 $ 500 $800 40 40 Job 201 350 200 10 Job 202 1,000 600 30 Franks Fabricating uses job costing and applies overhead using a normal costing system and uses direct labor cost as the allocation base. This period's estimated overhead cost is $100,000 and estimated direct labor cost of $50,000 and 2,500 direct labor hours. What is the total manufacturing cost of Job 201? O none of the above...
For Question 5, I am looking for the cost of direct materials, direct labor, manufacturing overhead,...
For Question 5, I am looking
for the cost of direct materials, direct labor, manufacturing
overhead, and work in process inventory.
Problem 3-14 Schedule of Cost of Goods Manufactured; Overhead Analysis (LO3-3, LO3-4] Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $111,600 of manufacturing overhead for...
Compare and contrast the primary differences between the job costing and process costing using the following...
Compare and contrast the primary differences between the job costing and process costing using the following table: Select the letter from the list below that corresponds with the characteristic that best explains each item in the table. LOADING... (Click the icon to view the list of characteristics.) a. Direct materials and conversion costs b. Direct materials and conversion costs are assigned to each manufacturing process. Then these costs are accumulated in separate WIP accountslong dash—one for each manufacturing process. As...
direct materials and direct manufacturing Donna Corporation manufactures custom cabinets for kitchens. It uses a normal...
direct materials and direct manufacturing Donna Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cost categories labor--and one indirect cost pool, manufacturing overhead costs It provides the following information for 2017 Click the icon to view the information for 2017) Read the requirement Begin by calculating the budgeted Indirect cost rate. Select the formula and then calculate the rate (Assume the cost allocation base is direct labor hours) Budgeted manufacturing overhead costs Budgeted...
Destin Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Destin allocates manufacturing overhead costs using direct manufacturing labor costs. Destin provides the following information (Click the icon to view the information) Read the requirements Requirement 1. Compute the actual and budgeted manufacturing overhead rates for 2020. (Enter your answer as a number (not as a percentage] rounded to two decimal places, X.XX.) Actual manufacturing overhead rate Budgeted...
Destin Products uses a job-costinf system with two
direct cost categories (direct materials and direct manufacturing
labor) and one manufacturing overhead cost pool Destin allocates
manufacturing overhead costs using direct manufacturing labor
costs. Destin proves the following information in the photo
.
1. Compute the actual and budgeted manufacturing
overhead rates for 2017.
2. During March, the job cost record for Job 626 contained the
following information:
Direct materials
used
$40,000
Direct manufacturing
labor costs $35,000
Compute the...
Need help with question 17 & 18!
c. Direct materials and direct manufacturing labor are included in total manufacturing costs. d. Manufacturing overhead costs incurred is used to determine total manufacturing costs. 4-17 Sturdy Manufacturing Co. assembled the following cost data for job order 823: Direct manufacturing labor $80,000 Indirect manufacturing labor 12,000 Equipment depreciation 1,000 Other indirect manufacturing costs 1,500 Direct materials 95,000 Indirect materials 4,000 Manufacturing overhead overapplied 2,000 What are the total manufacturing costs for job order...
Direct Direct Direct Materials Labor Cost Labor Hours Job 200 $ 500 $800 40 40 Job 201 350 200 10 Job 202 1,000 600 30 Franks Fabricating uses job costing and applies overhead using a normal costing system and uses direct labor cost as the allocation base. This period's estimated overhead cost is $100,000 and estimated direct labor cost of $50,000 and 2,500 direct labor hours. What is the total manufacturing cost of Job 201? O none of the above...
For Question 5, I am looking
for the cost of direct materials, direct labor, manufacturing
overhead, and work in process inventory.
Problem 3-14 Schedule of Cost of Goods Manufactured; Overhead Analysis (LO3-3, LO3-4] Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $111,600 of manufacturing overhead for...
direct materials and direct manufacturing Donna Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cost categories labor--and one indirect cost pool, manufacturing overhead costs It provides the following information for 2017 Click the icon to view the information for 2017) Read the requirement Begin by calculating the budgeted Indirect cost rate. Select the formula and then calculate the rate (Assume the cost allocation base is direct labor hours) Budgeted manufacturing overhead costs Budgeted...
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